BMO Capital Markets Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Tamarack Valley Energy (TSE:TVE) had its price target boosted by investment analysts at BMO Capital Markets from C$9.00 to C$11.00 in a research report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 45.89% from the stock’s previous close.

A number of other brokerages also recently commented on TVE. Royal Bank Of Canada boosted their target price on Tamarack Valley Energy from C$6.00 to C$7.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Acumen Capital boosted their price target on Tamarack Valley Energy from C$7.25 to C$7.50 and gave the company a “buy” rating in a research note on Thursday, October 30th. National Bankshares increased their price objective on Tamarack Valley Energy from C$7.50 to C$8.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Raymond James Financial lifted their target price on shares of Tamarack Valley Energy from C$6.50 to C$7.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group downgraded shares of Tamarack Valley Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Tamarack Valley Energy currently has an average rating of “Moderate Buy” and an average target price of C$7.58.

Tamarack Valley Energy Stock Up 2.6%

TSE TVE traded up C$0.19 during trading on Friday, reaching C$7.54. 1,383,484 shares of the company’s stock were exchanged, compared to its average volume of 1,957,462. The firm has a market capitalization of C$3.71 billion, a PE ratio of -44.35 and a beta of 0.79. Tamarack Valley Energy has a fifty-two week low of C$3.10 and a fifty-two week high of C$7.63. The company has a current ratio of 0.73, a quick ratio of 0.80 and a debt-to-equity ratio of 34.61. The company’s fifty day simple moving average is C$6.29 and its 200-day simple moving average is C$5.40.

Tamarack Valley Energy (TSE:TVE) last announced its quarterly earnings data on Friday, October 31st. The company reported C($0.50) EPS for the quarter. Tamarack Valley Energy had a net margin of 13.48% and a return on equity of 9.89%. The company had revenue of C$406.32 million for the quarter. Sell-side analysts predict that Tamarack Valley Energy will post 0.1386527 EPS for the current year.

Insider Transactions at Tamarack Valley Energy

In other Tamarack Valley Energy news, Director Shannon Joseph acquired 16,129 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was bought at an average cost of C$6.32 per share, with a total value of C$101,935.28. Following the completion of the transaction, the director directly owned 38,328 shares in the company, valued at approximately C$242,232.96. This represents a 72.66% increase in their position. 1.32% of the stock is owned by corporate insiders.

About Tamarack Valley Energy

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.